Romanian DTH and cable operator RCS&RDS is reportedly talking to banks about a five-year €300m (US$410m) loan to refinance its debt.
Credit Suisse is allegedly the lead arranger on the transaction, with Erste, Raiffeisen and CEC Bank also rumoured to…
Romanian DTH and cable operator RCS&RDS is reportedly talking to banks about a five-year €300m (US$410m) loan to refinance its debt.
Credit Suisse is allegedly the lead arranger on the transaction, with Erste, Raiffeisen and CEC Bank also rumoured to be involved, according to local reports.
It is suggested that the facility will be secured within the next few weeks and will pay a margin of between 4% and 5%.
RCS&RDS was unable to comment before the press deadline.
The company was founded in Romania in 2005 following the merger of Romania Cable Systems (RCS) and Romanian Data Systems (RDS), but operates across much of the Eastern European market.
Its DTH platform in Romania operates under the brand Digi TV. The country is currently populated with five such platforms – Digi, Dolce, Akta Satelit, Boom TV, and Focus Sat – although consolidation is now under way.
Incumbent Romtelecom, which controls satellite TV operator Dolce, has agreed to buy two local DTH platforms: Akta Satelit and insolvent Boom TV.
A few months ago, it was even reported that RCS&RDS was looking to acquire the government’s 46% stake in Romtelecom, which would have seen RCS&RDS hold a substantial share of the Romanian DTH market
However, on 1 July Greek operator OTE, which controls 54% of the Romanian incumbent, and the Romanian ministry of communications and Information together Prior to this, in early 2011, RCS&RDS was allegedly close to acquiring UPC Romania, the country’s second largest cableco and owner of Focus Sat, for approximately US$300m.
Entrepreneur Zoltan Teszari, who controls RCS&RDS, was understood to have met with Goldman Sachs, Credit Suisse and Morgan Stanley to finance a potential acquisition.
